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I always remind myself that what one observes is at best a combination of variance and returns, not just returns.

Nassim Nicholas Taleb

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Nassim Nicholas Taleb
Age: 64
Born: 1960
Born: September 11
Author
Economist
Essayist
Mathematician
Philosopher
Statistician
University Teacher
Writer
Nassim Nicholas Najib Taleb
Nassim Taleb
Variance
Returns
Remind
Combination
Return
Best
Always
Observes

More quotes by Nassim Nicholas Taleb

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Your reputation is harmed the most by what you say to defend it.
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Private equity has absolutely no reason to exist. The private equity holder has all the upside and the banks all the downside.
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The fragile wants tranquility, the antifragile grows from disorder, and the robust doesn't care too much.
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The fool generalizes the particular the nerd particularizes the general some do both and the wise does neither
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Globalization has created this interlocking fragility. At no time in the history of the universe has the cancellation of a Christmas order in New York meant layoffs in China.
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I want them poor and they deserve to be poor. You can't have capitalism without punishment.
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Philosophers talk about truth and falsehood. People in life talk about payoff, exposure, and consequences (risks and rewards), hence fragility and antifragility. And sometimes philosophers and thinkers and those who study conflate Truth with risks and rewards.
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I disagree with the followers of Marx and those of Adam Smith: the reason free markets work is because they allow people to be lucky, thanks to aggressive trial and error, not by giving rewards or incentives for skill.
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It's harder to say 'no' when you really mean it.
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Things always become obvious after the fact
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We favor the visible, the embedded, the personal, the narrated, and the tangible we scorn the abstract.
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When I trade, I don't have an agency problem I have my neck on the line. When a bank or banker trades, it's not his neck on the line.
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What is nonmeasurable and nonpredictable will remain nonmeasurable and nonpredictable ... no matter how much hate mail I get.
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The same past data can confirm a theory and its exact opposite! If you survive until tomorrow, it could mean that either a) you are more likely to be immortal or b) that you are closer to death.
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Only in recent history has working hard signaled pride rather than shame for lack of talent, finesse and, mostly, sprezzatura .
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The person you are most afraid to contradict is yourself.
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It has been more profitable for us to bind together in the wrong direction than to be alone in the right one.
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You have family-owned businesses that have been around for 500 years. You cannot name a corporation that survives intact for even a few decades.
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I suppose that the main benefit of being rich (over just being independent) is to be able to despise rich people (a good concentration of whom you find in glitzy ski resorts) without any sour grapes. It is even sweeter when these farts don't know that you are richer than they are.
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Simplicity is not so simple to attain.
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